“You have their involvement disguised or concealed by a $2 company with directors who are associates of the Obeids, but with a different surname,” he says.
“They love a little trustee, a discretionary trust in which these people who are cooperative agree to hold benefits on trust for the Obeid family.”
The warning emerged just one day after the Australian Financial Review published a report detailing how the ATO was aware that it lacked a dedicated “oversight committee”, five months into the program. However, some said the report was “overblown”.
55 corporations paid no federal income tax in 2020
- ProPublica: America's Richest People Pay Little To Nothing In Federal Income Taxes (June 8, 2021)
- Dorothy Brown And David Cay Johnston Discuss Yesterday's ProPublica's Report On The Tax Secrets Of The .001% (June 9, 2021)
- Dorothy Brown On The ProPublica Tax Report, Racial Justice, And The Gig Economy (June 14, 2021)
- ProPublica: How Peter Thiel Turned $2,000 In A Roth IRA Into $5,000,000,000 (June 28, 2021)
- ProPublica: Why You Can’t Turn Your Roth IRA Into a Billion-Dollar Tax Shelter (July 1, 2021)
- ProPublica: The Billionaire Playbook — How Sports Owners Use Their Teams To Avoid Millions In Taxes (July 12, 2021)
- ProPublica: The Number Of People With IRAs Worth $5 Million Or More Has Tripled, Congress Says (July 29, 2021)
- ProPublica: Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut” (Aug. 11, 2021)
- ProPublica: How The Trump Tax Law Created A Loophole That Lets Top Executives Net Millions By Slashing Their Own Salaries (Aug. 20, 2021)
- ProPublica: House Bill Would Blow Up The Massive IRAs Of The Superwealthy (Sept. 22, 2021)
- ProPublica: More Than Half Of America’s 100 Richest People Exploit GRATs To Avoid Estate Taxes (Sept. 30, 2021)
Is human consciousness creating reality? Big Think Exceptionalism reaches a new level.
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Lifehacker - 10 Privacy Settings Every Amazon User Should Enable Right Now – “Amazon is so deeply entrenched in our lives that we all have a ton of info connected with the company. Even if you somehow haven’t directly used Amazon for shopping, you probably have used a Kindle, an Echo, or simply asked Alexa a question or two. If you’ve had a brush with Amazon anywhere, you should take a look at your account to check if your privacy settings are in order…and there are quite a few preferences that you should tweak for better privacy, or simply for a better user experience…”